RALEIGH, (SGRToday.com) - An audit of a rural economic development group that was dissolved by the General Assembly concludes the group did not return $22.3 milllion in federal funds that belong to the state North Carolina.

 

The audit, released by state Auditor Beth Wood's office, says the Rural Economic Development Center, Inc. did return $100 million in state funds but has not turned over the remaining $22.3 million.

 

The entire audit can be found at www.ncauditor.net/EpsWeb/Reports/FiscalControl/FCA-2014-7901.pdf

 

The audit summary reads:

 

"The objective of this audit was to answer specific questions asked by legislators regarding the NC Rural Economic Development Center Inc.’s transfer of state appropriated grant funds to the State. The specific questions and auditors’ findings are provided in the Findings section of the management letter. Agency management agreed with the results of the audit."